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MEMPHIS, Tenn. , Nov. 19, 2024 (GLOBE NEWSWIRE) -- AutoZone, Inc. (NYSE: AZO), the leading retailer and distributor of automotive replacement parts and accessories in the Americas , will release results for its first quarter ended Saturday, November 23, 2024 , before market open on Tuesday,

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    • By shelitaauto
      Source: Gasgoo

      link hidden, please login to view Japanese automaker Nissan Motor’s two assembly plants in the southeastern United States have been affected by slowing vehicle sales. Nissan Motor North America expects its U.S. production to decrease by 17 percent in fiscal year 2024 (April 2024 to March 2025). Nissan has already said it will cut its production by 20 percent globally to deal with oversupply and ballooning costs.
      Image Source: Nissan
      In a planning document sent to auto parts suppliers in November, Nissan projected it would build 503,202 vehicles in Canton, Mississippi, and Smyrna, Tennessee, in fiscal 2024, down from 605,435 in fiscal 2023.
       
      Nissan has informed its auto parts suppliers that its vehicle production for the second half of the fiscal year 2024 (October 2024 to March 2025) will be 12,554 units less than originally planned (i.e. a 4.8% reduction).
       
      Nissan is cutting production of several light trucks, including 6,438 Frontier midsize pickups and 2,010 Rogue compact crossovers. In the first nine months of this year, the two models together accounted for 37% of Nissan’s U.S. sales.
       
      Nissan also plans to reduce production of 2,290 Pathfinder large crossovers and 2,465 Infiniti QX60 midsize crossovers, but plans to increase production of 649 Nissan Altima midsize sedans.
       
      At the same time, Nissan will reduce shifts at some assembly plants from five days a week to four by the end of the year.
       
      Nissan spokesman Brian Brockman said the company adjusted its production forecast in response to a dynamic market to ensure the automaker maintains healthy supply and inventory levels.
       
      Nissan has cut U.S. production several times this year to reduce dealer inventories. U.S. supply of the Nissan brand peaked at 112 days in April, compared with an industry average of 76 days, according to Cox Automotive.
       
      In the first quarter of this year, Nissan reduced its U.S. production by 6%, or about 10,200 vehicles, with the Rogue model accounting for more than 50% of the reduction, and the Pathfinder and Frontier models also affected. In September and October, Nissan cut production of the Rogue and Frontier by as much as 40,000 vehicles.
       
      According to Automotive News Research and Data Center, the Nissan brand has lost more than 25 percent of its market share in the U.S. over the past five years, and its market share has fallen to 5.6 percent in the first nine months of this year. The reduction in Nissan’s vehicle production pushed the profitability of Nissan dealers to its lowest level in nearly 15 years in the first half of this year.
    • By Advance Auto Parts
      Announces Asset Optimization Program Targeting Reduction of 500 Corporate Stores, 200 Independently Owned Locations and Four Distribution Centers by Mid-2025 Introduces New Fiscal 2027 Financial Objectives Targeting Approximately 7% Adjusted Operating Income Margin (1) and Approximately 2.5x Debt Leverage Ratio; Provides Preliminary 2025 Guidance Identifies Over 500-basis points of Operating Margin Expansion Opportunity Through Fiscal 2027 With Focus on Core Retail Fundamental Excellence RALEIGH, N.C.--(BUSINESS WIRE)-- Advance Auto Parts, Inc. (NYSE: AAP), a leading automotive aftermarket parts provider in North America that serves both professional installer and do-it-yourself customers, announced its financial results for the third quarter ended October 5, 2024.
      "We are pleased to have made progress on our strategic actions, including the completion of the sale of Worldpac and a comprehensive operational productivity review of our business,” said Shane O’Kelly, president and chief executive officer. “We are charting a clear path forward and introducing a new three-year financial plan, with a focus on executing core retail fundamentals to improve the productivity of all our assets and to create shareholder value."
      On November 1, 2024, the company completed its previously announced sale of Worldpac for aggregate cash consideration of approximately $1.5 billion, as adjusted for working capital and other items. Unless otherwise specified, results are presented on a continuing operations basis.
      Third Quarter 2024 Results (1,2,3,4)
      Third quarter 2024 net sales from continuing operations totaled $2.1 billion, compared with $2.2 billion in the third quarter of the prior year. Comparable store sales decreased 2.3%.
      The company's gross profit increased 11.0% to $907.9 million, or 42.3% of net sales compared with 36.9% in the third quarter of the prior year. The leverage improvement was primarily due to lapping the one-time impact in the change for inventory reserves in the prior year as well as stabilizing product costs offset by strategic pricing investments.
      The company's SG&A expenses were $907.5 million, or 42.2% of net sales. Adjusted SG&A expenses were $891.2 million, or 41.5% of net sales compared with 40.2% in the third quarter of 2023, primarily due to lower sales. The company also incurred high labor-related expenses due to wage investments in frontline team members that were partially offset by a reduction in marketing expenses.
      The company's operating income was $403.0 thousand, or zero percent of net sales. Adjusted operating income was $16.7 million, or 0.8% of net sales compared with (3.3)% in the third quarter of 2023. In addition, our operating income margin was negatively impacted by approximately 125 basis points of atypical items and headwinds in the period (such as lost revenue from Hurricane Helene and downtime from the CrowdStrike outage) that are not included in non-GAAP adjustments.
      The company's effective tax rate was (58.4)%, compared with 24.5% in the third quarter of 2023. The company's diluted loss per share for the quarter was $0.42. The company's adjusted diluted loss per share was $0.04 compared with a loss per share of $1.19 in the third quarter of 2023. The types of unusual headwinds in the quarter noted above, which are not included in the non-GAAP adjustments, negatively impacted the company's earnings per share by 34 cents.
      Net cash provided by operating activities was $81.0 million through the third quarter of 2024 versus $28.3 million of cash used in operating activities in the same period of the prior year. Free cash flow through the third quarter of 2024 was an outflow of $48.7 million compared with an outflow of $202.5 million in the same period of the prior year.
      (1)
        Adjusted Operating Income Margin is a non-GAAP measure. For a better understanding of the company’s non-GAAP adjustments, refer to the reconciliation of non-GAAP financial measures in the accompanying financial tables.
      (2)
        All comparisons are based on continuing operations for the same time period in the prior year, unless otherwise specified. The company calculates comparable store sales based on the change in store or branch sales starting once a location has been open for approximately one year and by including e-commerce sales and excluding sales fulfilled by distribution centers to independently owned Carquest locations. Acquired stores are included in the company's comparable store sales one year after acquisition. The company includes sales from relocated stores in comparable store sales from the original date of opening.
      (3)
        As reported in the company’s fourth quarter and full year 2023 earnings release, the company corrected non-material errors in certain previously reported financials. All comparisons are based on the corrected historical results as presented in the company’s prior earnings release dated February 28, 2024.  
      (4)
        On August 22, 2024, the company entered into a definitive purchase agreement to sell its Worldpac Inc. business (“Worldpac”), which reflects a strategic shift in its business. The sale was completed on November 1, 2024. As a result, the company has classified the results of operations and cash flows of Worldpac as discontinued operations in its condensed consolidated statements of operations and condensed consolidated statements of cash flows for all periods presented. The related assets and liabilities associated with the discontinued operations are classified as held for sale in the condensed consolidated balance sheets.
      Capital Allocation
      On October 29, 2024, the company declared a regular cash dividend of $0.25 per share to be paid on January 24, 2025, to all common stockholders of record as of January 10, 2025.
      Full Year 2024 Guidance
      For the balance of 2024, the company is providing guidance that includes expectations for continuing operations as well as adjusted metrics that take into account non-GAAP adjustments.
       
       
      As of November 14, 2024
      ($ in millions, except per share data)
       
      Low
       
      High
      Net sales from continuing operations
       
      Approx. $9,000
      Comparable store sales (1)
       
      Approx. (1.0%)
      Adjusted operating income margin from continuing operations
       
       
      0.25
      %
       
       
      0.75
      %
      Adjusted diluted EPS from continuing operations
       
      $
      (0.60
      )
       
      $
      0.00
       
      Capital expenditures
       
      $
      175
       
       
      $
      225
       
      Free cash flow (2)
       
      Approx. flat (including strategic costs)
      (1)
        The company calculates comparable store sales based on the change in store or branch sales starting once a location has been open for approximately one year and by including e-commerce sales and excluding sales fulfilled by distribution centers to independently owned Carquest locations. Acquired stores are included in the company's comparable store sales one year after acquisition. The company includes sales from relocated stores in comparable store sales from the original date of opening.
      (2)
        Adjusted operating income margin from continuing operations, Adjusted diluted EPS from continuing operations and Free cash flow are non-GAAP measures. For a better understanding of the company's non-GAAP adjustments, refer to the reconciliation of non-GAAP financial measures in the accompanying financial tables. The company is not able to provide a reconciliation of these forward-looking non-GAAP measures because it is unable to predict with reasonable accuracy the value of certain adjustments and as a result, the comparable GAAP measures are unavailable without unreasonable efforts.
      Strategic Priorities and Financial Objectives
      Strategic Priorities
      The company is executing a strategic plan to improve business performance with a focus on core retail improvements. The company has identified opportunities that it believes can improve adjusted operating income margin by more than 500-basis points through fiscal 2027. This strategic plan is anchored on three pillars outlined below to put the company on the path to deliver consistent profitable growth.
      Store operations Reduction in U.S. asset footprint - closing 523 Advance corporate stores, exiting 204 independent locations, and closing four distribution centers. Standardization of store operating model and improving labor productivity. Acceleration in pace of new store openings. Merchandising excellence Strategic sourcing to improve first costs and bring parts to market faster. Assortment management to enhance availability of parts. Pricing and promotions management to improve gross margin. Supply chain Consolidation of distribution centers to operate 13 large facilities by 2026. Opening of 60 market hub locations by mid-2027. Optimization of transportation routes and freight to lower costs and improve productivity. Financial Objectives (Advance Auto Parts continuing operations)
      The company is introducing new fiscal 2027 financial objectives and providing preliminary fiscal 2025 guidance.
       
       
      Preliminary FY 2025 Guidance (53 weeks)
       
      FY 2027 Objectives
      Net sales ($ in millions)
       
      $8,400 - $8,600
       
      Approx. $9,000
      Comparable sales growth
       
      0.50% - 1.50%
       
      Positive low-single-digit %
      New store growth
       
      30 new stores
       
      50 to 70 new stores
      Adjusted operating income margin (1)
       
      2.00% - 3.00%
       
      Approx. 7.00%
      Leverage Ratio (Adj. debt/ Adj. EBITDAR) (1)
       
      3.0x – 4.0x
       
      Approx. 2.5x
      (1)
        Adjusted operating income margin is based on performance of Advance continuing operations and excludes intercompany margins related to Worldpac. Adjusted operating income margin from continuing operations and Adjusted Debt to Adjusted EBITDAR ratio (“leverage ratio”) are non-GAAP measures. For a better understanding of the company’s non-GAAP adjustments, refer to the reconciliation of non-GAAP financial measures in the accompanying financial tables. The company is not able to provide a reconciliation of these forward-looking non-GAAP measures because it is unable to predict with reasonable accuracy the value of certain adjustments and as a result, the comparable GAAP measures are unavailable without unreasonable efforts.
      Investor Conference Call
      The company will detail its results for the third quarter ended October 5, 2024, via a webcast scheduled to begin at 8 a.m. Eastern Time on Thursday, November 14, 2024. The webcast will be accessible via the Investor Relations page of the company's website (
      link hidden, please login to view). To join by phone, please pre-register online for dial-in and passcode information. Upon registering, participants will receive a confirmation with call details and a registrant ID. While registration is open through the live call, the company suggests registering a day in advance or at minimum 10 minutes before the start of the call. A replay of the conference call will be available on the company's Investor Relations website for one year.
      About Advance Auto Parts
      Advance Auto Parts, Inc. is a leading automotive aftermarket parts provider that serves both professional installers and do-it-yourself customers. As of October 5, 2024, Advance operated 4,781 stores primarily within the United States, with additional locations in Canada, Puerto Rico and the U.S. Virgin Islands. The company also served 1,125 independently owned Carquest branded stores across these locations in addition to Mexico and various Caribbean islands. Additional information about Advance, including employment opportunities, customer services and online shopping for parts, accessories and other offerings can be found at 
      link hidden, please login to view. Forward-Looking Statements
      Certain statements herein are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are usually identifiable by words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “forecast, “guidance,” “intend,” “likely,” “may,” “plan,” “position,” “possible,” “potential,” “probable,” “project,” “should,” “strategy,” “target,” “will,” or similar language. All statements other than statements of historical fact are forward-looking statements, including, but not limited to, statements about the company’s strategic initiatives, restructuring and asset optimization plans, financial objectives, operational plans and objectives, statements about the sale of the company’s Worldpac business, including statements regarding the benefits of the sale and use of proceeds therefrom, statements regarding expectations for economic conditions, future business and financial performance, as well as statements regarding underlying assumptions related thereto. Forward-looking statements reflect the company’s views based on historical results, current information and assumptions related to future developments. Except as may be required by law, the company undertakes no obligation to update any forward-looking statements made herein. Forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those projected or implied by the forward-looking statements. They include, among others, the company’s ability to hire, train and retain qualified employees, the timing and implementation of strategic initiatives, risks associated with the company’s restructuring and asset optimization plans, deterioration of general macroeconomic conditions, geopolitical factors, the highly competitive nature of the industry, demand for the company’s products and services, ongoing risks associated with the disposition of Worldpac, the company’s ability to maintain credit ratings, risks relating to the impairment of assets, including intangible assets such as goodwill, access to financing on favorable terms, complexities in the company’s inventory and supply chain and challenges with transforming and growing its business. Please refer to “Item 1A. Risk Factors” of the company’s most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”), as updated by the company’s subsequent filings with the SEC, for a description of these and other risks and uncertainties that could cause actual results to differ materially from those projected or implied by the forward-looking statements.
      Advance Auto Parts, Inc. and Subsidiaries
      Condensed Consolidated Balance Sheets
      (In thousands) (unaudited)
       
       
        October 5, 2024
       
      December 30, 2023
      Assets
         
       
       
      Current assets:
         
       
       
      Cash and cash equivalents
        $
      464,492
       
      $
      488,049
      Receivables, net
         
      668,937
       
       
      609,528
      Inventories, net
         
      4,042,200
       
       
      3,893,569
      Other current assets
         
      180,448
       
       
      180,402
      Current assets held for sale
         
      2,137,690
       
       
      1,205,473
      Total current assets
         
      7,493,767
       
       
      6,377,021
      Property and equipment, net
         
      1,479,738
       
       
      1,555,985
      Operating lease right-of-use assets
         
      2,399,630
       
       
      2,347,073
      Goodwill
         
      600,182
       
       
      601,159
      Other intangible assets, net
         
      409,501
       
       
      419,161
      Other noncurrent assets
         
      85,366
       
       
      85,988
      Noncurrent assets held for sale
         

       
       
      889,939
      Total assets
        $
      12,468,184
       
      $
      12,276,326
      Liabilities and Stockholders' Equity
         
       
       
      Current liabilities:
         
       
       
      Accounts payable
        $
      3,498,460
       
      $
      3,526,079
      Accrued expenses
         
      641,914
       
       
      616,067
      Other current liabilities
         
      458,343
       
       
      396,408
      Current liabilities held for sale
         
      994,824
       
       
      768,851
      Total current liabilities
         
      5,593,541
       
       
      5,307,405
      Long-term debt
         
      1,788,513
       
       
      1,786,361
      Noncurrent operating lease liabilities
         
      2,018,383
       
       
      2,039,908
      Deferred income taxes
         
      380,118
       
       
      355,635
      Other long-term liabilities
         
      89,949
       
       
      83,538
      Noncurrent liabilities held for sale
         

       
       
      183,751
      Total stockholders' equity
         
      2,597,680
       
       
      2,519,728
      Total liabilities and stockholders’ equity
        $
      12,468,184
       
      $
      12,276,326
      Advance Auto Parts, Inc. and Subsidiaries
      Condensed Consolidated Statements of Operations
      (In thousands, except per share data) (unaudited)
       
       
       
       
       
       
        Twelve Weeks Ended
       
      Forty Weeks Ended
       
        October 5, 2024
       
      October 7, 2023 (1)
       
      October 5, 2024
       
      October 7, 2023 (1)
      Net sales
        $
      2,147,991
       
       
      $
      2,218,205
       
       
      $
      7,098,302
       
       
      $
      7,194,670
       
      Cost of sales, including purchasing and warehousing costs
         
      1,240,093
       
       
       
      1,400,638
       
       
       
      4,036,898
       
       
       
      4,154,190
       
      Gross profit
         
      907,898
       
       
       
      817,567
       
       
       
      3,061,404
       
       
       
      3,040,480
       
      Selling, general and administrative expenses
         
      907,495
       
       
       
      896,145
       
       
       
      2,954,707
       
       
       
      2,959,238
       
      Operating income (loss)
         
      403
       
       
       
      (78,578
      )
       
       
      106,697
       
       
       
      81,242
       
      Other, net:
         
       
       
       
       
       
       
      Interest expense
         
      (18,805
      )
       
       
      (19,375
      )
       
       
      (62,127
      )
       
       
      (69,948
      )
      Other income (expense), net
         
      2,393
       
       
       
      (305
      )
       
       
      12,769
       
       
       
      232
       
      Total other, net
         
      (16,412
      )
       
       
      (19,680
      )
       
       
      (49,358
      )
       
       
      (69,716
      )
      (Loss) income before provision for income taxes
         
      (16,009
      )
       
       
      (98,258
      )
       
       
      57,339
       
       
       
      11,526
       
      Provision for income taxes
         
      9,354
       
       
       
      (24,072
      )
       
       
      34,763
       
       
       
      6,360
       
      Net (loss) income from continuing operations
         
      (25,363
      )
       
       
      (74,186
      )
       
       
      22,576
       
       
       
      5,166
       
      Net income from discontinued operations
         
      19,349
       
       
       
      12,149
       
       
       
      56,413
       
       
       
      59,696
       
      Net (loss) income
        $
      (6,014
      )
       
      $
      (62,037
      )
       
      $
      78,989
       
       
      $
      64,862
       
       
         
       
       
       
       
       
       
      Basic (loss) earnings per common share from continuing operations
        $
      (0.42
      )
       
      $
      (1.25
      )
       
      $
      0.38
       
       
      $
      0.09
       
      Basic earnings per common share from discontinued operations
         
      0.32
       
       
       
      0.20
       
       
       
      0.95
       
       
       
      1.00
       
      Basic (loss) earnings per common share
        $
      (0.10
      )
       
      $
      (1.05
      )
       
      $
      1.33
       
       
      $
      1.09
       
      Basic weighted-average common shares outstanding
         
      59,684
       
       
       
      59,474
       
       
       
      59,618
       
       
       
      59,411
       
       
         
       
       
       
       
       
       
      Diluted (loss) earnings per common share from continuing operations
        $
      (0.42
      )
       
      $
      (1.24
      )
       
      $
      0.38
       
       
      $
      0.09
       
      Diluted earnings per common share from discontinued operations
         
      0.32
       
       
       
      0.20
       
       
       
      0.94
       
       
       
      1.00
       
      Diluted (loss) earnings per common share
        $
      (0.10
      )
       
      $
      (1.04
      )
       
      $
      1.32
       
       
      $
      1.09
       
      Diluted weighted-average common shares outstanding
         
      59,902
       
       
       
      59,630
       
       
       
      59,878
       
       
       
      59,588
       
      (1)
        The condensed consolidated statement of operations for the twelve and forty weeks ended October 7, 2023, reflects the correction of non-material errors the company discovered in previously reported results.
      Advance Auto Parts, Inc. and Subsidiaries
      Condensed Consolidated Statements of Cash Flows
      (In thousands) (unaudited)
       
         
       
       
       
        Forty Weeks Ended
       
        October 5, 2024
       
      October 7, 2023
      Cash flows from operating activities:
         
       
       
      Net income
        $
      78,989
       
       
      $
      64,862
       
      Net income from discontinued operations
         
      56,413
       
       
       
      59,696
       
      Net income from continuing operations
         
      22,576
       
       
       
      5,166
       
      Adjustments to reconcile net income to net cash used in operating activities:
         
       
       
      Depreciation and amortization
         
      217,197
       
       
       
      206,658
       
      Share-based compensation
         
      33,810
       
       
       
      33,777
       
      (Gain) Loss on sale and impairment of long-lived assets
         
      (14,273
      )
       
       
      1,886
       
      Provision for deferred income taxes
         
      24,289
       
       
       
      (27,811
      )
      Other, net
         
      2,986
       
       
       
      2,436
       
      Net change in:
         
       
       
      Receivables, net
         
      (60,383
      )
       
       
      (161,629
      )
      Inventories, net
         
      (152,229
      )
       
       
      (110,871
      )
      Accounts payable
         
      (25,225
      )
       
       
      (77,336
      )
      Accrued expenses
         
      30,794
       
       
       
      171,117
       
      Other assets and liabilities, net
         
      1,477
       
       
       
      (71,707
      )
      Net cash provided by (used in) operating activities from continuing operations
         
      81,019
       
       
       
      (28,314
      )
      Net cash provided by operating activities from discontinued operations
         
      76,917
       
       
       
      57,148
       
      Net cash provided by operating activities
         
      157,936
       
       
       
      28,834
       
      Cash flows from investing activities:
         
       
       
      Purchases of property and equipment
         
      (129,714
      )
       
       
      (174,186
      )
      Proceeds from sales of property and equipment
         
      13,232
       
       
       
      2,001
       
      Net cash used in investing activities of continuing operations
         
      (116,482
      )
       
       
      (172,185
      )
      Net cash used in investing activities of discontinued operations
         
      (7,988
      )
       
       
      (13,015
      )
      Net cash used in investing activities
         
      (124,470
      )
       
       
      (185,200
      )
      Cash flows from financing activities:
         
       
       
      Borrowings under credit facilities
         

       
       
       
      4,805,000
       
      Payments on credit facilities
         

       
       
       
      (4,990,000
      )
      Borrowings on senior unsecured notes
         

       
       
       
      599,571
       
      Dividends paid
         
      (44,882
      )
       
       
      (194,322
      )
      Purchases of noncontrolling interests
         
      (9,101
      )
       
       

       
      Proceeds from the issuance of common stock
         
      2,995
       
       
       
      3,045
       
      Repurchases of common stock
         
      (5,601
      )
       
       
      (14,237
      )
      Other, net
         
      (1,143
      )
       
       
      (5,010
      )
      Net cash (used in) provided by financing activities
         
      (57,732
      )
       
       
      204,047
       
       
        Forty Weeks Ended
       
        October 5, 2024
       
      October 7, 2023
      Effect of exchange rate changes on cash
         
      11,766
       
       
       
      (1,932
      )
       
         
       
       
      Net (decrease) increase in cash and cash equivalents
         
      (12,500
      )
       
       
      45,749
       
      Cash and cash equivalents, beginning of period
         
      503,471
       
       
       
      270,805
       
      Cash and cash equivalents, end of period
        $
      490,971
       
       
      $
      316,554
       
       
         
       
       
      Summary of cash and cash equivalents:
         
       
       
      Cash and cash equivalents of continuing operations, end of period
        $
      464,492
       
       
      $
      308,804
       
      Cash and cash equivalents of discontinued operations, end of period
         
      26,479
       
       
       
      7,750
       
      Cash and cash equivalents , end of period
        $
      490,971
       
       
      $
      316,554
       
      (1)
        The condensed consolidated statement of cash flows for the forty weeks ended October 7, 2023, reflects the correction of non-material errors the company discovered in previously reported results.
      Restatement of Previously Issued Financial Statements
      During the fiscal year ended December 30, 2023, the company identified errors primarily impacting cost of sales, selling, general and administrative costs and other income/expenses, net, incurred in prior years but not previously recognized. The company evaluated the errors and determined that the related impacts were not material to the previously issued consolidated financial statements for any prior period. A summary of the corrections to the impacted financial statement line items in the company's Condensed Consolidated Statement of Operations for the twelve and forty weeks ended October 7, 2023, and the company's Condensed Consolidated Statement of Cash Flows for the forty weeks ended October 7, 2023, included in the company's previously filed Annual Report on Form 10-K are presented below:
      Condensed Consolidated Statement of Operations
      October 7, 2023
       
        Twelve Weeks Ended
      (in thousands)
        As Previously Reported
       
      Adjustments
       
      As Corrected
       
      Discontinued Operations
       
      As Corrected, after Discontinued Operations
      Cost of sales
        $
      1,732,420
       
       
      $
      16,379
       
       
      $
      1,748,799
       
       
      $
      348,161
       
      $
      1,400,638
       
      Gross profit
         
      986,659
       
       
       
      (16,379
      )
       
       
      970,280
       
       
       
      152,713
       
       
      817,567
       
      Selling, general and administrative expenses
         
      1,030,355
       
       
       
      878
       
       
       
      1,031,233
       
       
       
      135,088
       
       
      896,145
       
      Operating (loss) income
         
      (43,696
      )
       
       
      (17,257
      )
       
       
      (60,953
      )
       
       
      17,625
       
       
      (78,578
      )
      (Loss) Income before provision for income taxes
         
      (64,319
      )
       
       
      (17,257
      )
       
       
      (81,576
      )
       
       
      16,682
       
       
      (98,258
      )
      Provision for income taxes
         
      (15,686
      )
       
       
      (3,853
      )
       
       
      (19,539
      )
       
       
      4,533
       
       
      (24,072
      )
      Net (loss) income
        $
      (48,633
      )
       
      $
      (13,404
      )
       
      $
      (62,037
      )
       
      $
      12,149
       
      $
      (74,186
      )
       
         
       
       
       
       
       
       
       
       
      Basic (loss) earnings per share
        $
      (0.82
      )
       
      $
      (0.23
      )
       
      $
      (1.05
      )
       
      $
      0.20
       
      $
      (1.25
      )
      Diluted (loss) earnings per common share
        $
      (0.82
      )
       
      $
      (0.22
      )
       
      $
      (1.04
      )
       
      $
      0.20
       
      $
      (1.24
      )
      Condensed Consolidated Statement of Operations
      October 7, 2023
       
        Forty Weeks Ended
      (in thousands)
        As Previously Reported
       
      Adjustments
       
      As Corrected
       
      Discontinued Operations
       
      As Corrected, after Discontinued Operations
      Cost of sales
        $
      5,220,200
       
      $
      29,877
       
       
      $
      5,250,077
       
      $
      1,095,887
       
      $
      4,154,190
      Gross profit
         
      3,602,538
       
       
      (29,877
      )
       
       
      3,572,661
       
       
      532,181
       
       
      3,040,480
      Selling, general and administrative expenses
         
      3,407,445
       
       
      2,272
       
       
       
      3,409,717
       
       
      450,479
       
       
      2,959,238
      Operating income (loss)
         
      195,093
       
       
      (32,149
      )
       
       
      162,944
       
       
      81,702
       
       
      81,242
      Income (loss) before provision for income taxes
         
      124,894
       
       
      (32,149
      )
       
       
      92,745
       
       
      81,219
       
       
      11,526
      Provision for income taxes
         
      34,649
       
       
      (6,766
      )
       
       
      27,883
       
       
      21,523
       
       
      6,360
      Net income (loss)
        $
      90,245
       
      $
      (25,383
      )
       
      $
      64,862
       
      $
      59,696
       
      $
      5,166
       
         
       
       
       
       
       
       
       
       
      Basic earnings (loss) per share
        $
      1.52
       
      $
      (0.43
      )
       
      $
      1.09
       
      $
      1.00
       
      $
      0.09
      Diluted earnings (loss) per common share
        $
      1.51
       
      $
      (0.42
      )
       
      $
      1.09
       
      $
      1.00
       
      $
      0.09
      Condensed Consolidated Statement of Cash Flows
      Forty Weeks Ended October 7, 2023
      (in thousands)
        As Previously Reported
       
      Adjustments
       
      As Corrected
       
      Discontinued Operations
       
      As Corrected, after Discontinued Operations
      Net income
        $
      90,245
       
       
      $
      (25,383
      )
       
      $
      64,862
       
       
      $
      59,696
       
       
      $
      5,166
       
      Provision for deferred income taxes
         
      (33,059
      )
       
       
      5,248
       
       
       
      (27,811
      )
       
       

       
       
       
      (27,811
      )
      Other, net
         
      1,499
       
       
       
      937
       
       
       
      2,436
       
       
       

       
       
       
      2,436
       
      Net change in:
         
       
       
       
       
       
       
       
       
      Receivables, net
         
      (170,371
      )
       
       
      (9,519
      )
       
       
      (179,890
      )
       
       
      (18,261
      )
       
       
      (161,629
      )
      Inventories, net
         
      (41,025
      )
       
       
      15,442
       
       
       
      (25,583
      )
       
       
      85,288
       
       
       
      (110,871
      )
      Accounts payable
         
      (191,871
      )
       
       
      28,500
       
       
       
      (163,371
      )
       
       
      (86,035
      )
       
       
      (77,336
      )
      Accrued expenses
         
      145,704
       
       
       
      21,521
       
       
       
      167,225
       
       
       
      (3,892
      )
       
       
      171,117
       
      Other assets and liabilities, net
         
      (45,015
      )
       
       
      (38,316
      )
       
       
      (83,331
      )
       
       
      (11,624
      )
       
       
      (71,707
      )
      Net cash provided by (used in) operating activities
         
      30,404
       
       
       
      (1,570
      )
       
       
      28,834
       
       
       
      57,148
       
       
       
      (28,314
      )
      Other, net (1)
         
      (4,073
      )
       
       
      (937
      )
       
       
      (5,010
      )
       
       

       
       
       
      (5,010
      )
      Net cash provided by financing activities
         
      204,984
       
       
       
      (937
      )
       
       
      204,047
       
       
       
       
       
      Effect of exchange rate changes on cash
         
      (1,942
      )
       
       
      10
       
       
       
      (1,932
      )
       
       
       
       
      Net increase (decrease) in cash and cash equivalents
         
      48,246
       
       
       
      (2,497
      )
       
       
      45,749
       
       
       
       
       
      Cash and cash equivalents, beginning of period
         
      269,282
       
       
       
      1,523
       
       
       
      270,805
       
       
       
      50,670
       
       
       
      220,135
       
      Cash and cash equivalents, end of period
        $
      317,528
       
       
      $
      (974
      )
       
      $
      316,554
       
       
      $
      7,750
       
       
      $
      308,804
       
      (1)
        The summary of corrections table above inadvertently omitted disclosure for proceeds from the issuance of common stock as follows: $3.0 million as previously reported, $0 adjustments and $3.0 million as corrected.
      Reconciliation of Non-GAAP Financial Measures
      The company's financial results include certain financial measures not derived in accordance with accounting principles generally accepted in the United States of America (“GAAP”). Non-GAAP financial measures, including Adjusted Net income, Adjusted EPS, Adjusted SG&A Margin, and Adjusted Operating Income, should not be used as a substitute for GAAP financial measures, or considered in isolation, for the purpose of analyzing our operating performance, financial position or cash flows.
      The company has presented these non-GAAP financial measures as the company believes that the presentation of the financial results that exclude (1) transformation expenses under the company’s turnaround plan, (2) other significant costs and (3) nonrecurring tax expense are useful and indicative of the company's base operations because the expenses vary from period to period in terms of size, nature and significance. These measures assist in comparing the company’s current operating results with past periods and with the operational performance of other companies in the industry. The disclosure of these measures allows investors to evaluate the company’s performance using the same measures management uses in developing internal budgets and forecasts and in evaluating management’s compensation. Included below is a description of the expenses the company has determined are not normal, recurring cash operating expenses necessary to operate the company’s business and the rationale for why providing these measures is useful to investors as a supplement to the GAAP measures.
      Transformation Expenses — Costs incurred in connection with the company's turnaround plan and specific transformative activities related to asset optimization that the company does not view to be normal cash operating expenses. These expenses primarily include:
      Distribution network optimization — Costs primarily relating to the conversion of the stores and DCs to market hubs, including temporary labor, team member severance, long-lived asset write off charges and incremental depreciation, as a result of accelerating depreciation of long-lived assets over a shorter useful life as a result of the optimization plans. Third-party professional services — Costs relating to non-recurring services rendered by third-party vendors assisting with the turnaround initiatives. Other Expenses — Costs incurred by the company that are not viewed as normal cash operating expenses and vary from period to period in terms of size, nature, and significance, including but not limited to executive turnover and incremental costs associated with remediating the company's previously-disclosed material weaknesses in internal control over financial reporting.
      Nonrecurring Tax Expense — Income tax incurred by the company from the book to tax basis difference in the Worldpac Canada stock directly resulting from the sale of Worldpac.
      The following tables include reconciliations of this information to the most comparable GAAP measures:
      Reconciliation of Adjusted Net Income and Adjusted EPS:
       
        Twelve Weeks Ended
       
      Forty Weeks Ended
      (in thousands, except per share data)
        October 5, 2024
       
      October 7, 2023
       
      October 5, 2024
       
      October 7, 2023
      Net (loss) income from continuing operations (GAAP)
        $
      (25,363
      )
       
      $
      (74,186
      )
       
      $
      22,576
       
       
      $
      5,166
       
      Selling, general and administrative
      adjustments:
         
       
       
       
       
       
       
      Transformation expenses:
         
       
       
       
       
       
       
      Distribution network optimization
         
      8,909
       
       
       

       
       
       
      13,943
       
       
       

       
      Third-party professional services
         
      3,582
       
       
       
      50
       
       
       
      5,301
       
       
       
      320
       
      Other charges:
         
       
       
       
       
       
       
      Executive turnover
         
      87
       
       
       
      3,799
       
       
       
      1,561
       
       
       
      5,360
       
      Material weakness remediation
         
      1,293
       
       
       
      429
       
       
       
      3,649
       
       
       
      429
       
      Other significant costs (1)
         
      2,394
       
       
       

       
       
       
      3,491
       
       
       

       
      Provision for income taxes on adjustments (2)
         
      (4,066
      )
       
       
      (1,070
      )
       
       
      (6,986
      )
       
       
      (1,527
      )
      Nonrecurring tax expense
         
      10,000
       
       
       

       
       
       
      10,000
       
       
       

       
      Adjusted net (loss) income (Non-GAAP)
        $
      (3,164
      )
       
      $
      (70,978
      )
       
      $
      53,535
       
       
      $
      9,748
       
       
         
       
       
       
       
       
       
      Diluted (loss) earnings per share from continuing operations (GAAP)
        $
      (0.42
      )
       
      $
      (1.24
      )
       
      $
      0.38
       
       
      $
      0.09
       
      Adjustments, net of tax
         
      0.38
       
       
       
      0.05
       
       
       
      0.52
       
       
       
      0.08
       
      Adjusted EPS (Non-GAAP)
        $
      (0.04
      )
       
      $
      (1.19
      )
       
      $
      0.90
       
       
      $
      0.17
        (1)
        During the twelve and forty weeks ended October 5, 2024, the Company recorded expense of $2.4 million and $3.5 million for costs incurred following a cybersecurity incident that occurred over these periods.
      (2)
        The income tax impact of non-GAAP adjustments is calculated using the estimated tax rate in effect for the respective non-GAAP adjustments.
      Reconciliation of Adjusted Selling, General and Administrative Expenses
       
        Twelve Weeks Ended
       
      Forty Weeks Ended
      (in thousands)
        October 5, 2024
       
      October 7, 2023
       
      October 5, 2024
       
      October 7, 2023
      SG&A (GAAP)
        $
      907,495
       
      $
      896,145
       
      $
      2,954,707
       
      $
      2,959,238
      SG&A adjustments
         
      16,265
       
       
      4,278
       
       
      27,945
       
       
      6,109
      Adjusted SG&A (Non-GAAP)
        $
      891,230
       
      $
      891,867
       
      $
      2,926,762
       
      $
      2,953,129
      Reconciliation of Adjusted Operating Income:
       
        Twelve Weeks Ended
       
      Forty Weeks Ended
      (in thousands)
        October 5, 2024
       
      October 7, 2023
       
      October 5, 2024
       
      October 7, 2023
      Operating income (GAAP)
        $
      403
       
      $
      (78,578
      )
       
      $
      106,697
       
      $
      81,242
      SG&A adjustments
         
      16,265
       
       
      4,278
       
       
       
      27,945
       
       
      6,109
      Adjusted operating income (Non-GAAP)
        $
      16,668
       
      $
      (74,300
      )
       
      $
      134,642
       
      $
      87,351
      NOTE:
        Adjusted SG&A, Adjusted SG&A as a percentage of Net sales, Adjusted operating income and Adjusted operating income margin (calculated by dividing Adjusted operating income by Net sales) are non-GAAP measures. Management believes these non-GAAP measures are important metrics in assessing the overall performance of the business and utilizes these metrics in its ongoing reporting. On that basis, management believes it is useful to provide these metrics to investors and prospective investors to evaluate the company’s operating performance across periods adjusting for these items (refer to the reconciliations of non-GAAP adjustments above). These non-GAAP measures might not be calculated in the same manner as, and thus might not be comparable to, similarly titled measures reported by other companies. Non-GAAP measures should not be used by investors or third parties as the sole basis for formulating investment decisions, as they may exclude a number of important cash and non-cash recurring items.
      Reconciliation of Free Cash Flow: (1)
         
       
       
       
        Forty Weeks Ended
      (in thousands)
        October 5, 2024
       
      October 7, 2023
      Cash flows provided by operating activities of continuing operations
        $
      81,019
       
       
      $
      (28,314
      )
      Purchases of property and equipment
         
      (129,714
      )
       
       
      (174,186
      )
      Free cash flow
        $
      (48,695
      )
       
      $
      (202,500
      )
      Adjusted Debt to Adjusted EBITDAR: (1)
         
       
       
       
        Four Quarters Ended
      (In thousands, except adjusted debt to adjusted EBITDAR ratio)
        October 5, 2024
       
      December 30, 2023
      Total GAAP debt
        $
      1,788,513
       
       
      $
      1,786,361
       
      Add: Operating lease liabilities
         
      2,711,578
       
       
       
      2,660,827
       
      Adjusted debt
        $
      4,500,091
       
       
      $
      4,447,188
       
       
         
       
       
      GAAP Net income
        $
      50,819
       
       
      $
      29,735
       
      Depreciation and amortization
         
      309,566
       
       
       
      306,454
       
      Interest expense
         
      80,559
       
       
       
      88,055
       
      Other expense, net
         
      (16,174
      )
       
       
      (5,525
      )
      Provision for income taxes
         
      23,843
       
       
       
      2,112
       
      Rent expense
         
      638,232
       
       
       
      613,859
       
      Share-based compensation
         
      46,557
       
       
       
      45,647
       
      Other charges (2)
         
      40,091
       
       
       
      12,419
       
      Transformation related charges
         
      27,131
       
       
       
      29,719
       
      Adjusted EBITDAR
        $
      1,200,624
       
       
      $
      1,122,475
       
       
         
       
       
      Adjusted Debt to Adjusted EBITDAR
         
      3.7
       
       
       
      4.0
       
      (1)
        The four quarters ended October 5, 2024, includes the correction of non-material errors the company discovered in previously reported results.
      (2)
        The adjustments to the four quarters ended October 5, 2024, and December 30, 2023, include expenses associated with the company's material weakness remediation efforts and executive turnover.
       
         
      NOTE:
        Management believes its Adjusted Debt to Adjusted EBITDAR ratio (“leverage ratio”) is a key financial metric for debt securities, as reviewed by rating agencies, and believes its debt levels are best analyzed using this measure. The company’s goal is to maintain an investment grade rating. The company's credit rating directly impacts the interest rates on borrowings under its existing credit facility and could impact the company's ability to obtain additional funding. If the company was unable to maintain its investment grade rating, this could negatively impact future performance and limit growth opportunities. Similar measures are utilized in the calculation of the financial covenants and ratios contained in the company's financing arrangements. The leverage ratio calculated by the company is a non-GAAP measure and should not be considered a substitute for debt to net earnings, as determined in accordance with GAAP. The company adjusts the calculation to remove rent expense and to add back the company’s existing operating lease liabilities related to their right-of-use assets to provide a more meaningful comparison with the company’s peers and to account for differences in debt structures and leasing arrangements. The company’s calculation of its leverage ratio may not be calculated in the same manner as other companies, and thus may not be comparable to similarly titled measures used by other companies.
      Store Information
      During the forty weeks ended October 5, 2024, 23 stores were opened and 29 were closed, resulting in a total of 4,781 stores as of October 5, 2024, compared with a total of 4,786 stores as of December 30, 2023.
      The below table summarizes the changes in the number of company-operated stores during the twelve and forty weeks ended October 5, 2024:
       
       
      Twelve Weeks Ended
       
       
      AAP
       
      CARQUEST
       
      Total
      July 15, 2024
       
      4,484
       
       
      292
       
       
      4,776
       
      New
       
      9
       
       

       
       
      9
       
      Closed
       
      (2
      )
       
      (2
      )
       
      (4
      )
      Converted
       
      1
       
       
      (1
      )
       

       
      October 5, 2024
       
      4,492
       
       
      289
       
       
      4,781
       
       
       
      Forty Weeks Ended
       
       
      AAP
       
      CARQUEST
       
      Total
      December 30, 2023
       
      4,484
       
       
      302
       
       
      4,786
       
      New
       
      23
       
       

       
       
      23
       
      Closed
       
      (17
      )
       
      (12
      )
       
      (29
      )
      Converted
       
      2
       
       
      (1
      )
       
      1
       
      October 5, 2024
       
      4,492
       
       
      289
       
       
      4,781
       
       

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    • By garryhe
      Table of contents
      link hidden, please login to view link hidden, please login to view link hidden, please login to view link hidden, please login to view link hidden, please login to view link hidden, please login to view link hidden, please login to view link hidden, please login to view link hidden, please login to view link hidden, please login to view link hidden, please login to view link hidden, please login to view link hidden, please login to view link hidden, please login to view what’s the brake pads
      Brake pads are essential components of a vehicle’s braking system, designed to create friction against the brake rotor or drum. These flat, metal-backed plates feature a friction material that, when the brake pedal is pressed, gets pressed against the spinning rotor through hydraulic pressure from the brake caliper. This action generates the necessary stopping force to decelerate or halt the vehicle. Due to regular wear from friction, brake pads should be frequently inspected and replaced to maintain safe braking performance. performance
      Global Demand for Brake Pads in 2023
      According to a recent market report, the global automotive brake pads market reached 6.097 billion yuan in 2022, with China accounting for 1 billion yuan. Projections indicate that by 2028, the market will expand to 7.199 billion yuan, reflecting a compound annual growth rate (CAGR) of 2.73% between 2023 and 2028. This growth highlights the increasing demand for brake pads, leading more companies to enter the manufacturing and distribution sectors.
       
      Transportation, highlighting the increasing demand for the brake pads industry. Consequently, more enterprises are expected to join the ranks of brake pad production or distribution. Now, let’s unveil the 20 influential and competitive global brands in 2024;
      Top Brake Pad Manufacturers and Distributors in 2024
      Here are the top 5 influential global brake pad brands in 2024: for manufacturers and distributors.
      Brembo S.p.A
      link hidden, please login to view link hidden, please login to view link hidden, please login to view Italy Primary Products: Renowned for high-performance braking systems across vehicles, including racing applications.
      BremboBrembo is an acknowledged world leader and innovator in the field of automotive disc brake technology, The company supplies high-performance braking systems to the premier makers of automobiles, motorcycles, and commercial vehicles worldwide. The company sells over 1,300 products across the world and has a presence in both OEMs and aftermarket. It is also a prominent brake system supplier to racing events such as F1, MotoGP, and IndyCar series.
      you can look through the Brembo website to check more details.
      Akebono
      link hidden, please login to view link hidden, please login to view link hidden, please login to view Japan, USA Primary Products: ULTRA-PREMIUM BRAKE PADS, BRAKE PAD REPLACEMENT for Asia vehicles, Dometic vehicles, European vehicles, and performance vehicles.
      Akebono manufactures a wide range of brake friction materials and foundation brake assemblies, including disc brake calipers and drum brakes, as well as latest technology EPB braking (electric park brakes), all employing the Akebono Production System (APS). The APS approach features proven quality control techniques to guarantee minimal process variation in all phases of production. Embraced throughout the organization, APS enables the company to consistently achieve nearly zero defects per million parts produced. all brake pads or kits made in USA.
      Explore  the line of Ultra-Premium Brake Pads, designed by Akebono OE engineers to meet the needs of our aftermarket customers. You’ll find that Akebono truly is The Essence of Braking®. And get the safety, reliability and performance that only a global leader in brake products can provide.
      EBC Brakes
      link hidden, please login to view link hidden, please login to view link hidden, please login to view UK Primary Products: brake pads /discs and rotors for Automotive, Motorcycle, Scooter, Bicycle, Racing, and UTV and other accessories.
      With a worldwide workforce of over 400 people, EBC Brakes is an independently owned and managed leader in the brake market, proud of its customers, its products, its success, and its people.
      EBC Brakes produces the largest range of brake pads and brake discs in the world, with over 5000 part numbers for every type of moving vehicle. EBC Brakes are made in one of its two specialist factories in the UK and USA. The majority of EBC brake discs or brake rotors are also made in the UK.
      Including brake pads /discs and rotors for Automotive, Motorcycle, Scooter, Bicycle, Racing, and UTV. 
      ATE
      link hidden, please login to view link hidden, please login to view link hidden, please login to view UK Primary Products: Disc brake pads, brake discs, brake drums, brake fluid, hydraulic parts, clutch parts, and wheel speed sensors.
      ATE has more than 100 years of experience – ATE brand is one of the oldest and most successful in the brakes market today. They are naturally proud of this tradition and proud that they are part of Continental, one of the largest and most influential automotive suppliers in the world.
      Continental develops intelligent technologies to move people and their goods. As an international automotive supplier, tyre manufacturer and industry partner, the Group offers sustainable, safe, convenient, individual and affordable solutions.
      Continental develops pioneering technologies and services for sustainable and connected mobility of people and their goods. Founded in 1871, the technology company offers safe, efficient, intelligent and affordable solutions for vehicles, machines, traffic and transport. In 2023, Continental generated sales of €41,4 billion and currently employs around 200,000 people in 56 countries and markets.
      Brands in the independent aftermarket
      The commercial vehicle and trading activities of Continental are combined in the business area Smart Mobility (SMY). The following product brands are sold there:
      Continental VDO ATE Galfer Wagner Brake
      link hidden, please login to view link hidden, please login to view link hidden, please login to view Frankfurt, German Primary Products: brake pads, lighting, Fluids, rotors 
      Wagner® is the innovator in braking technologies for passenger cars, medium-duty, and commercial applications. Wagner sets industry standards with leading engineering expertise and a commitment to ensuring that our parts deliver superior braking performance. With comprehensive coverage, Wagner Brake provides all the components necessary for a complete brake repair. Our premium products offer exceptional quality for all the latest applications.
      Wagner® lighting products have been on the leading edge of auto lighting since the development of the sealed-beam headlamp. With an exclusive focus on automotive lighting, customers benefit from proven expertise in engineering and manufacturing OE components for the world’s major automotive manufacturers. With comprehensive coverage, Wagner is enhancing driving visibility and safety for all your automotive replacement lighting needs.
      BOSCH
      link hidden, please login to view link hidden, please login to view link hidden, please login to view Missouri, USA Primary Products: QuietCast™ Premium Disc Brake Rotors, QuietCast™ Premium Disc Brake Pads; Euroline Brake Pads; Blue Disc Brake Pads; Police Pursuit Brake Pads; Blue Brake Shoes; Hydro-Boost® Power Brake Assembly; QuietCast™ Medium Duty Brake Pads; Severe Duty Brake Pads
      With over 130 years of experience in the automotive industry, Bosch continues to lead the way in automotive innovation by inventing and developing quality products and solutions that focus on customer needs, shaping the future, and the continued pursuit of excellence.
      Bosch Automotive Aftermarket offers a comprehensive portfolio of unmatched solutions for every job. From diverse diagnostic solutions and OE-quality auto parts to industry-leading software and unmatched vehicle coverage, to innovative charging, repair, and maintenance tools. Bosch has solutions for every shop.
      ACDelco
      link hidden, please login to view link hidden, please login to view link hidden, please login to view USA Primary Products: BRAKE DRUM & ROTORS; BRAKE HYDRAULICS; BRAKE PADS & SHOES; 
      For more than 100 years,† General Motors has pushed the limits of transportation and technology, and they’re proud to have helped drive that innovation. GM Genuine Parts and ACDelco are proud to work together as the only source for true General Motors Original Equipment and aftermarket parts. Our roots empower us. ACDelco has been at the forefront of automotive innovation since the birth of GM in 1908, but a strong start in automotive wasn’t enough. They’ve helped a woman fly around the world and a man traverses the surface of the moon. However, our history isn’t half as promising as our future as we continue to go forward with GM Genuine Parts by our side to offer and grow our technical training and rewards programs. From the assembly line to the finish line, GM technological innovation and improvement continue to build with GM Original Equipment as our foundation.
      General Motors drivers value confidence in their vehicles, the premium parts that help keep them on the road, and the professionals that maintain and repair them. GM Genuine Parts and ACDelco are proud to work together as the only source for true General Motors Original Equipment and aftermarket parts. That’s a responsibility they don’t take lightly, as they constantly strive to earn drivers’ vote of confidence by: Building and innovating on the quality of GM Parts Providing drivers with assurance as they stand behind our work Constantly supporting the trained professionals that help keep you on the road Innovation brings challenge and opportunity, and They’re suiting up for both. When it comes to the evolving maintenance, repair, collision, and powertrain needs of Chevrolet, Buick, GMC, and Cadillac vehicles, only GM Genuine Parts and ACDelco offer true GM Original Equipment built for what’s next. That’s why with GM Genuine Parts and ACDelco – Certainty Starts Here.
      Ferodo
      link hidden, please login to view link hidden, please login to view link hidden, please login to view USA Primary Products: Premium brake pads, Rotors; 
      Ferodo is a leading, European based, internationally-recognized brand and favorite of the aftermarket. Our product range includes advanced technology brake pads, brake discs, lined shoes, and brake fluids, as well as racing and high-performance products and accessories. Our brake pads are offered to the North American aftermarket.
      They are passionate about progress and bold innovation has fueled our success. 17 globally-networked technology centers enable us to bring breakthroughs in advanced technology and innovation to original equipment (OE) manufacturers and to the aftermarket. they have secured thousands of patents as we work to bring advanced technologies for cleaner engines and enhanced safety and comfort
      Forerunner on the market, ECO-FRICTION® is the result of 5 years of dedicated Research with 1,500 materials tested and 25 different new components.
      ECO-FRICTION® MAKES IT GREENER FOR BEST-IN-CLASS PERFORMANCE WITH THIS TECHNOLOGICAL BREAKTHROUGH
      Green materials for a greener product & a significant reduction of fine particle emissions
      Noise suppression Increased safety Best-in-class performance results AS GREAT AS A FERODO®PREMIER PAD, MINUS THE COPPER
      ECO-FRICTION®Brake tested on 6 popular vehicle models: consistency of performance results ascertained Up to 17% more stopping power than competitors’ brands on selected vehicles makes the Eco-Friction®pad the best product with a technical innovation already approved and adopted by vehicle manufacturers. ALREADY APPROVED BY PREMIUM CAR BRANDS
      Fitted as Original Equipment on Mercedes-Benz C-Class since March 2014 and Audi A4 since September 2015.
      Bendix
      link hidden, please login to view link hidden, please login to view link hidden, please login to view USA Primary Products: BENDIX PREMIUM brake kit, BENDIX PRIORITY 1 brake kit; BENDIX FLEET METLOCK kit
      The history of the Bendix brand has been highlighted by a long list of major product contributions to the automotive industry for over a century. The success of the Bendix® brand has been the result of many major product contributions to the automotive, aviation, aerospace and transportation industries for nearly a century. With brakes on cars, buses, trucks, trailers, airplanes, golf carts, farm and construction equipment – and even bicycles, Bendix is one of the best-known names in the transportation industry.
      MAT Holdings has been manufacturing the Bendix brand of light and medium-duty brake products since 2014. MAT Auto Group, part of MAT Holdings, is a leading global manufacturer of friction, cast iron (braking & transmission), and ride control products for OEM, OES, and aftermarket light, medium, & heavy duty vehicle markets.
      MAT Auto Group brings to Bendix the latest in brake technology, global manufacturing, and first-to-market coverage in the light and medium-duty vehicle markets. In addition, MAT Auto Group consists of a family of companies representing a true vertically integrated supply chain. Our vertical integration allows us to control the materials, processes, and quality from raw materials to finished products and deliver those products to our multi-channel distributors on a consistent basis.
      TEXTAR
      link hidden, please login to view link hidden, please login to view link hidden, please login to view German Primary Products: Brake pads, brake discs, brake linings,  brake drums, brake shoes, ABS sensors
      Textar provides premium OE braking for every type of current and future requirement in the worldwide car parc. Whatever the driving conditions, Textar ensures best-in-class performance, comfort, and safety, along with maximum environmental and regulatory compliance  –  providing total confidence for distributors, workshops, and drivers alike.
      From super-minis to heavy trucks, hybrids to fully electric vehicles, Textar covers more vehicles than any other braking brand in the aftermarket.
      KETULLA
      link hidden, please login to view link hidden, please login to view China Primary Products: Ceramic brake pads, semi metallic brake pads, low metallic brake pads, truck break pads
      Established in 2000, Ketulla as a professional  link hidden, please login to viewspecializes in a wide range of brake pads, maintaining strong international partnerships and offering OEM services.
      We prioritize product research and development as well as product quality, which are the reasons why the company has been able to operate successfully until now. Additionally, we are honored to be a leading member of the China Friction Materials Association and one of the organizations involved in drafting national standards for friction materials in China. We remain steadfast in our commitment to innovation and research, continuously striving to meet market demands.
      We have established strong cooperative relationships with customers in 32 countries and regions worldwide, with a portfolio of over 13,200 collaborating brands. We remain committed to providing OEM customized services. Our primary product range includes ceramic brake pads, semi-metallic brake pads, and low metallic brake pads designed for both light vehicles and commercial vehicles. Additionally, we offer a comprehensive selection of 2,351 different pad models, covering approximately 98% of vehicles and trucks globally.
    • By Counterman
      link hidden, please login to view, a global manufacturer of filtration products, and AMN/Counterman magazine named Moe Ali of Arch Auto Parts the 2024 Counter Professional of the Year. Ali is the vice president of sales at Arch Auto Parts, a division of NexaMotion Group. The Counter Professional of the Year award, sponsored by WIX Filters and presented at AAPEX in Las Vegas, annually recognizes an automotive aftermarket parts professional whose dedication, work ethic and expertise elevate their business and the profession as a whole.
      “Moe’s commitment to customer service is what sets him apart,” says Tina Davis, senior marketing manager – WIX global and US. “No one is more dedicated to getting the right parts for his customers. It’s why they continue to come back to him decades later. We are honored to recognize Moe as the 2024 Counter Professional of the Year.”
      Born in Guyana, Ali came to the United States at the age of eight. He was still in high school when he took a job as a part-time employee at Arch Auto Parts in Hollis, New York. Over the years, he took on a variety of roles, all of which helped develop the skills and knowledge needed to thrive as an aftermarket parts professional.
      “Moe has developed excellent parts and sales skills,” said Chris Bodh, group president of general repair businesses at Arch’s parent company, NexaMotion Group. “He’s loved and respected by his staff and customers and has an amazing attitude, even when he is juggling a lot of priorities.”
      Ali has made a career based on exceptional customer service. Developing relationships is what keeps generations of customers coming back to him. His philosophy is simple: “Get ‘em the right part, the first time.”  
      “Moe just worked hard and earned a lot of respect from a lot of his colleagues and customers,” said Kish Samaroo, vice president of operations at Arch Auto Parts. “He is the go-to guy. Every customer wants him because he has this personality that is really cool and calm.”
      Despite ascending to an executive role, Ali doesn’t shy away from the sales floor. He says he’d rather be “where the action is.”
      “It is truly an honor to award Moe as the 2024 Wix Filters Counter Professional of the Year,” said Jeff White, managing editor of Counterman. “He is deeply dedicated to his work, but it’s a labor of love. Moe goes beyond just selling a part—he cultivates relationships with his customers. People like Moe make the aftermarket great.”
      As dedicated as he is to the business, Ali still makes time for his family: his wife of 28 years, Ramona, and their two daughters, both in their 20s.
      As part of the Counter Professional of the Year award, Ali and his wife received an all-expenses paid trip to Las Vegas for AAPEX 2024. He was honored during the AWDA luncheon and was presented the award during the AMN/Counterman Counter Professional of the Year reception.
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